Founder of Asheville Cash Buyers, Rodrigo Afanador got into real estate in his early 20’s. He was young enough at the time that he figured he could either go bankrupt or figure it out and still be okay… but thankfully he figured it out and is now a successful entrepreneur in real estate. In this episode, we talk about how he got started, getting comfortable with large amounts of debt, and what it took to get people to trust him with large sums of money to invest in real estate with.
We also go into what it was like for him to hire his first employee, his growth path up until this point, and his big growth goals for 2020. We talk a lot about the importance of showing up, being consistent, and how crucial it is to hire a business coach to get you through the tough growth spots.
What we talk about:
- How he got started in real estate & how a book he read in high school led him to it.
- Drinking the kool-aid of the real estate seminar guys
- The nine months it took him to do his first deal, even though he only had 30 days to “prove himself”
- Real estate’s good debt vs. bad debt & getting comfortable leveraging other people’s money.
- How he built relationships to buy real estate with so he’s never had to use loans from banks or other financial institutions to finance his deals.
- Money mindset when using / leveraging debt
- Having an action plan to follow step-by-step every time you’re investing money.
- Hiring his first employee before he could technically afford it & the steps they had to go through to figure out their working rhythm together & how things will work and the responsibility dynamics. “We couldn’t figure out the right seat on the bus.”
- How to use real estate to grow your wealth even if you don’t have the time to make it your job.
- How to do your due diligence before investing with someone in real estate.
- The growth you go through as you develop as an entrepreneur.
- His current transition from single-family units to multi-family units & the challenges he’s facing growing his business in this way.
- His advice to the Business Bitch community: go find a coach & pay happily for them. A good coach is well worth it.